<p>十年前，<strong>Nvidia</strong>（NVDA +3.90%）主要以制造游戏玩家关注的显卡而闻名。经过后来的股票拆分调整，2016 年夏季的股价约为 1.28 美元。</p>
<p>如今，股价接近 204 美元。当时的 1 万美元投资大约可以购买 7800 股，现在价值约为 160 万美元。这是从一只毫不起眼的芯片股票中获得的近 160 倍的收益。</p>
<p>这个数字令人震惊。但对今天的投资者来说，更有用的问题不是收益有多大，而是是什么促成了这一收益，以及现在可能从哪里获得类似的收益。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzgyMTYvbnZkYS1zdG9jay1udmlkaWEuanBnJnc9Mzg0MA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzgyMTYvbnZkYS1zdG9jay1udmlkaWEuanBnJnc9Mzg0MA"/></p>
<p>图片来源：Nvidia。</p>
<h2>如何将 1 万美元变成财富</h2>
<p>在过去十年中，Nvidia 的崛起基于一个巨大的赌注：其显卡最初是为了渲染视频游戏而设计的，但它们也是 人工智能（AI） 的理想引擎。</p>
<p>这个赌注获得了惊人的回报。当人工智能热潮到来时，Nvidia 芯片中蕴含的并行计算能力使其成为训练和运行 AI 模型的默认硬件。需求激增，Nvidia 在围绕这些芯片的软件和网络方面拥有多年的领先优势。</p>
<p>此外，Nvidia 的软件使客户保持忠诚。开发者多年来在其编程工具上构建 AI 系统，这一已安装基础使得客户的转换成本很高。</p>
<p>Nvidia 现在不仅仅是一家芯片公司。它现在销售整套系统，捆绑处理器、网络和软件，进一步巩固了其在数据中心的地位。这些优势使其在竞争对手涌入时仍能保持市场份额和定价。</p>
<p>当然，其主导地位在财务数据中显而易见。在 2027 财年第一季度（截至 2026 年 4 月 26 日），Nvidia 的收入创下纪录，达到 816 亿美元，同比增长 85%。其数据中心业务单独带来了 752 亿美元，同比增长 92%。</p>
<p>公司的利润增长也非常惊人。收益增长如此迅速，以至于股价几乎上涨了 160 倍，实际上与基础业务保持同步，而不是远远超前。这一点从今天仅为 31 的市盈率中可以看出。</p>
<p>最后一点很重要。160 倍的收益听起来像是纯粹的狂热。但这在很大程度上是实实在在的，而不仅仅是想象。</p>
<p>展开</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL05WREEucG5nJnc9MTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Nvidia 股票报价" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL05WREEucG5nJnc9MTI4"/></p>
<h2>NASDAQ: NVDA</h2>
<p>Nvidia</p>
<p>今日变动</p>
<p>(3.90%) $7.90</p>
<p>当前价格</p>
<p>$210.68</p>
<h3>关键数据点</h3>
<p>市值</p>
<p>$5.1T 市值仅基于公开交易的流通股计算。不包括未上市、私有或双重类别的非交易股份。隐含市值可能有所不同。市值仅基于公开交易的流通股计算。不包括未上市、私有或双重类别的非交易股份。隐含市值可能有所不同。</p>
<p>日内区间</p>
<p>$201.91 - $210.87</p>
<p>52 周区间</p>
<p>$162.02 - $236.54</p>
<p>成交量</p>
<p>5.7M</p>
<p>平均成交量</p>
<p>158.9M</p>
<p>毛利率</p>
<p>74.15%</p>
<p>股息收益率</p>
<p>0.13%</p>
<h2>这样的事情还能再发生吗？</h2>
<p>对于任何希望在 Nvidia 中找到下一个 Nvidia 的人来说，残酷的事实是，数学根本不允许重复。</p>
<p>Nvidia 现在的市值约为 4.9 万亿美元，是地球上最有价值的公司之一。要将其转变为另一个 160 倍的收益，需要数十万亿美元的市场价值——这超过了全球所有股票市场的总和。这是不可能发生的。</p>
<p>因此，诚实的预期要谦逊得多。从这里开始，Nvidia 的回报将与其业务相匹配，而不是再一次的世代重估叠加在其上。</p>
<p>好消息是，业务看起来仍在全力运转。数据中心收入仍在快速增长，指导预计本季度收入约为 910 亿美元，再次上升。购买其大部分芯片的巨型云服务提供商仍在扩大其 AI 预算，这支撑了需求。最新的 Blackwell 芯片正在加速生产。尽管市场价值巨大，但股票的定价并不像泡沫。它的市盈率约为 31 倍，未来 12 个月的 预期收益 接近 20 倍。</p>
<p>当然，确实存在风险。人工智能的建设可能放缓，大客户正在设计自己的芯片，而这样一个周期性业务很少会直线增长。已经走到这一步的股票已经包含了大量的乐观预期。</p>
<p>那么，从 160 万美元中我们能得到什么启示？</p>
<p>主要是耐心加上真正的技术变革能带来什么的教训——并提醒我们不要固守过去。将 1 万美元变成财富的投资者是通过拥有一家成长为市场尚未想象的公司的企业来实现的。从这里开始，Nvidia 仍然可以是一个不错的投资，我不会轻易对其下注。但任何寻找下一个 160 倍收益的人，可能应该关注一些更小、更早且名声不那么显赫的公司。</p>

英伟达

2 倍做空 NVDA ETF - T-Rex

2 倍做多 NVDA ETF - T-Rex

<p>英伟达的股票在十年内飙升了约 160 倍，将 1 万美元变成了 160 万美元，这得益于其在人工智能领域的主导地位和强劲的财务表现。然而，由于其庞大的 5.1 万亿美元市值，重复这样的收益在数学上是不可能的。未来的回报可能会更多地跟随业务增长，而不是市盈率的扩张。尽管存在风险，英伟达仍然是一个稳健的投资选择，但寻求高市盈率的投资者应考虑其他选择</p>

<p>Ten years ago, <strong>Nvidia</strong>( NVDA +3.90%) was known mostly for making graphics cards that gamers cared about. Adjusted for its later stock splits, the shares traded for about $1.28 in the summer of 2016.</p>
<div class="lb-trans"><p>十年前，<strong>Nvidia</strong>（NVDA +3.90%）主要以制造游戏玩家关注的显卡而闻名。经过后来的股票拆分调整，2016 年夏季的股价约为 1.28 美元。</p>
</div><p>Today they change hands near $204. A $10,000 investment back then would have bought roughly 7,800 shares -- worth about $1.6 million now. That is a gain of nearly 160-fold, from a single, unglamorous chip stock.</p>
<div class="lb-trans"><p>如今，股价接近 204 美元。当时的 1 万美元投资大约可以购买 7800 股，现在价值约为 160 万美元。这是从一只毫不起眼的芯片股票中获得的近 160 倍的收益。</p>
</div><p>The number is staggering. But the more useful question for investors today isn't how big the gain was. It's what produced that gain, and where anything close might come from now.</p>
<div class="lb-trans"><p>这个数字令人震惊。但对今天的投资者来说，更有用的问题不是收益有多大，而是是什么促成了这一收益，以及现在可能从哪里获得类似的收益。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzgyMTYvbnZkYS1zdG9jay1udmlkaWEuanBnJnc9Mzg0MA" alt="The Nvidia headquarters." original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F878216%2Fnvda-stock-nvidia.jpg&amp;w=3840&amp;op=resize"/></p>
<p>Image source: Nvidia.</p>
<div class="lb-trans"><p>图片来源：Nvidia。</p>
</div><h2>What turned $10,000 into a fortune</h2>
<div class="lb-trans"><h2>如何将 1 万美元变成财富</h2>
</div><p>For most of the past decade, Nvidia's rise rested on a bet that proved enormous: that its graphics chips, originally built to render video games, were also the ideal engines for artificial intelligence (AI).</p>
<div class="lb-trans"><p>在过去十年中，Nvidia 的崛起基于一个巨大的赌注：其显卡最初是为了渲染视频游戏而设计的，但它们也是 人工智能（AI） 的理想引擎。</p>
</div><p>That bet paid off spectacularly. When the AI boom arrived, the parallel computing power packed into Nvidia's chips made them the default hardware for training and running AI models. Demand exploded, and Nvidia had a years-long head start on the software and networking wrapped around those chips.</p>
<div class="lb-trans"><p>这个赌注获得了惊人的回报。当人工智能热潮到来时，Nvidia 芯片中蕴含的并行计算能力使其成为训练和运行 AI 模型的默认硬件。需求激增，Nvidia 在围绕这些芯片的软件和网络方面拥有多年的领先优势。</p>
</div><p>Additionally, Nvidia's software has kept customers loyal. Developers built their AI systems on its programming tools over many years, and that installed base makes the switching costs high for its customers.</p>
<div class="lb-trans"><p>此外，Nvidia 的软件使客户保持忠诚。开发者多年来在其编程工具上构建 AI 系统，这一已安装基础使得客户的转换成本很高。</p>
</div><p>Nvidia is no longer just a chip company, either. It now sells entire systems that bundle processors, networking, and software, deepening its hold on the data center. Together, those advantages have let it hold both its share and its pricing even as competitors piled in.</p>
<div class="lb-trans"><p>Nvidia 现在不仅仅是一家芯片公司。它现在销售整套系统，捆绑处理器、网络和软件，进一步巩固了其在数据中心的地位。这些优势使其在竞争对手涌入时仍能保持市场份额和定价。</p>
</div><p>Its dominance, of course, is clear by its financials. In the fiscal first quarter of 2027 (the period ended April 26, 2026), Nvidia posted record revenue of $81.6 billion, up 85% year over year. Its data-center business alone brought in $75.2 billion, up 92%.</p>
<div class="lb-trans"><p>当然，其主导地位在财务数据中显而易见。在 2027 财年第一季度（截至 2026 年 4 月 26 日），Nvidia 的收入创下纪录，达到 816 亿美元，同比增长 85%。其数据中心业务单独带来了 752 亿美元，同比增长 92%。</p>
</div><p>And the company's profit growth has been extraordinary. Earnings have compounded so quickly that the stock, up nearly 160-fold, has actually kept pace with the underlying business rather than racing far ahead of it. This is clear from the stock's price-to-earnings ratio of just 31 today.</p>
<div class="lb-trans"><p>公司的利润增长也非常惊人。收益增长如此迅速，以至于股价几乎上涨了 160 倍，实际上与基础业务保持同步，而不是远远超前。这一点从今天仅为 31 的市盈率中可以看出。</p>
</div><p>That last point matters. A 160-fold gain sounds like pure mania. But it was largely earned, not just imagined.</p>
<div class="lb-trans"><p>最后一点很重要。160 倍的收益听起来像是纯粹的狂热。但这在很大程度上是实实在在的，而不仅仅是想象。</p>
</div><p>Expand</p>
<div class="lb-trans"><p>展开</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL05WREEucG5nJnc9MTI4" alt="Nvidia Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FNVDA.png&amp;w=128&amp;op=resize"/></p>
<h2>NASDAQ: NVDA</h2>
<div class="lb-trans"><h2>NASDAQ: NVDA</h2>
</div><p>Nvidia</p>
<div class="lb-trans"><p>Nvidia</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日变动</p>
</div><p>(3.90%) $7.90</p>
<div class="lb-trans"><p>(3.90%) $7.90</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>当前价格</p>
</div><p>$210.68</p>
<div class="lb-trans"><p>$210.68</p>
</div><h3>Key Data Points</h3>
<div class="lb-trans"><h3>关键数据点</h3>
</div><p>Market Cap</p>
<div class="lb-trans"><p>市值</p>
</div><p>$5.1TMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.Market cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.</p>
<div class="lb-trans"><p>$5.1T 市值仅基于公开交易的流通股计算。不包括未上市、私有或双重类别的非交易股份。隐含市值可能有所不同。市值仅基于公开交易的流通股计算。不包括未上市、私有或双重类别的非交易股份。隐含市值可能有所不同。</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日内区间</p>
</div><p>$201.91 - $210.87</p>
<div class="lb-trans"><p>$201.91 - $210.87</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周区间</p>
</div><p>$162.02 - $236.54</p>
<div class="lb-trans"><p>$162.02 - $236.54</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>5.7M</p>
<div class="lb-trans"><p>5.7M</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>158.9M</p>
<div class="lb-trans"><p>158.9M</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>74.15%</p>
<div class="lb-trans"><p>74.15%</p>
</div><p>Dividend Yield</p>
<div class="lb-trans"><p>股息收益率</p>
</div><p>0.13%</p>
<div class="lb-trans"><p>0.13%</p>
</div><h2>Can anything like it happen again?</h2>
<div class="lb-trans"><h2>这样的事情还能再发生吗？</h2>
</div><p>Here is the hard truth for anyone hoping to catch the next Nvidia in Nvidia. The math simply won't allow a repeat.</p>
<div class="lb-trans"><p>对于任何希望在 Nvidia 中找到下一个 Nvidia 的人来说，残酷的事实是，数学根本不允许重复。</p>
</div><p>Nvidia is now worth about $4.9 trillion, one of the most valuable companies on Earth. Turning that into another 160-fold gain would require a market value of several hundred trillion dollars -- larger than every stock market on the planet combined. It isn't going to happen.</p>
<div class="lb-trans"><p>Nvidia 现在的市值约为 4.9 万亿美元，是地球上最有价值的公司之一。要将其转变为另一个 160 倍的收益，需要数十万亿美元的市场价值——这超过了全球所有股票市场的总和。这是不可能发生的。</p>
</div><p>So the honest expectation is far more modest. From here, Nvidia's returns will track its business, not another once-in-a-generation rerating stacked on top of it.</p>
<div class="lb-trans"><p>因此，诚实的预期要谦逊得多。从这里开始，Nvidia 的回报将与其业务相匹配，而不是再一次的世代重估叠加在其上。</p>
</div><p>The good news is that the business still looks like it's firing on all cylinders. Data-center revenue is still growing fast, and guidance calls for revenue of about $91 billion in the current quarter, another step up. The giant cloud providers that buy most of its chips are still expanding their AI budgets, which underpins demand. The newest Blackwell chips are ramping. And despite the enormous market value, the stock isn't priced like a bubble. It trades at about 31 times trailing earnings and closer to 20 times expected earnings over the next 12 months.</p>
<div class="lb-trans"><p>好消息是，业务看起来仍在全力运转。数据中心收入仍在快速增长，指导预计本季度收入约为 910 亿美元，再次上升。购买其大部分芯片的巨型云服务提供商仍在扩大其 AI 预算，这支撑了需求。最新的 Blackwell 芯片正在加速生产。尽管市场价值巨大，但股票的定价并不像泡沫。它的市盈率约为 31 倍，未来 12 个月的 预期收益 接近 20 倍。</p>
</div><p>Of course, there are real risks. The AI build-out could slow, big customers are designing their own chips, and a business this cyclical rarely grows in a straight line. A stock that has come this far already has plenty of optimism baked in.</p>
<div class="lb-trans"><p>当然，确实存在风险。人工智能的建设可能放缓，大客户正在设计自己的芯片，而这样一个周期性业务很少会直线增长。已经走到这一步的股票已经包含了大量的乐观预期。</p>
</div><p>So what's the takeaway from that $1.6 million?</p>
<div class="lb-trans"><p>那么，从 160 万美元中我们能得到什么启示？</p>
</div><p>Mostly, it's a lesson in what patience plus a genuine technology shift can do -- and a reminder not to anchor on the past. The investor who turned $10,000 into a fortune did it by owning a business that grew into something the market couldn't yet imagine. Nvidia can still be a fine investment from here, and I wouldn't bet against it lightly. But anyone hunting for the next 160-bagger should probably be looking somewhere smaller, earlier, and far less famous.</p>
<div class="lb-trans"><p>主要是耐心加上真正的技术变革能带来什么的教训——并提醒我们不要固守过去。将 1 万美元变成财富的投资者是通过拥有一家成长为市场尚未想象的公司的企业来实现的。从这里开始，Nvidia 仍然可以是一个不错的投资，我不会轻易对其下注。但任何寻找下一个 160 倍收益的人，可能应该关注一些更小、更早且名声不那么显赫的公司。</p>
</div>

If You'd Invested $10,000 in Nvidia 10 Years Ago, Here's How Much You'd Have Today. Spoiler Alert: The Answer Is Mind-Boggling.

- Nvidia 的股价从 2016 年的 1.28 美元涨至今近 204 美元，涨幅近 160 倍。  
- 公司在 AI 领域的努力使得其营收达 816 亿美元，数据中心收入增至 752 亿美元。  
- 尽管未来回报有限，但 Nvidia 仍有增长潜力，需关注市场风险。

Motley Fool

1 倍做空英伟达 ETF - Direxion

2 倍做多英伟达 ETF - Direxion

2 倍做多英伟达 ETF - Leverage Shares

ProShares Ultra NVDA

南方两倍做多英伟达

2 倍做多英伟达 ETF - GraniteShares

1.5 倍做空英伟达 ETF - Tradr

南方两倍做空英伟达

英伟达期权收益策略 ETF - YieldMax

2 倍做空 NVDA ETF - GraniteShares

Leverage Shares 2x Cpd Acclrtd NVDAMnETF

NVDA 周配息 ETF - Roundhill

GraniteShares YieldBOOST NVDA ETF

xETFs NVDA Daily Income ETF

NVDA 期权收益策略 ETF - YieldMax

XI二南英伟-U

2 倍做多 MAG7 指数 ETF - Roundhill

半导体 ETF - VanEck Vectors

费城交易所 半导体 ETF - iShares

半导体 3 倍做多 - Direxion

Invesco PHLX Semiconductor ETF

标普半导体 ETF - SPDR

动态半导体 ETF - Invesco

纳斯达克半导体 ETF - First Trust

NVIDIA Corporation

如果你在 10 年前向英伟达投资了 10,000 美元，那么今天你会拥有多少呢？剧透：这个答案会让人惊叹